Student loans are worse than unemployment

For an institution to prosper and remain functional, they must adapt to society’s ever-changing trends, needs and expectations. In addition, a specific organization’s culture has to simultaneously evolve, indicating that change is inevitable amidst growth.    

College is a prime example of this ideology in regard to how overall concerns associated with this particular establishment have varied in the latter decades. 

For example, students today worry a great deal that after graduation their degree may not equate to a job in their field as it once did generations ago. This issue, at its core, is based on the nation’s unemployment rates. 

However, when looking at the data, the current unemployment rate of our nation is at 4.1 percent, the lowest it has been in 17 years. 

Moreover, as of December 2016, the present unemployment rate of college graduates is at an all-time low of 2.5 percent, suggesting that only one out of every 40 graduates is unemployed. 

Therefore, I would assert that the number one dilemma hindering college students post-graduation is not unemployment, but student loans. The debt that students compile throughout their four years or more (depending on the degree they obtain) is crippling financially. 

Furthermore, beyond an individual’s bank account, loans can induce hefty anxiety, impede on an individual’s independence from their family, and postpone individual’s lifetime goals, such as marriage or buying a house.

Moreover, I believe that many students are not fully aware of the extent of this problem because it has become a norm of attending college. This shift in dynamic showcases colleges’ development as a booming business and robust economy; a new culture is emerging.

It is imperative to acknowledge that the opportunities and education that college provides is vital in many professions, as well as its ability to aid students to grow personally in respect to values and beliefs. Yet, the fiscal fiasco that follows an individual is truly noteworthy. 

So, where does this leave all of us EU students chomping at the bit to get our diploma in hand and enter the workforce? I recommend the first step is to do your own research about your current career choice, because you can only benefit from being more informed about the path you are choosing and the implications that may follow. 

For example, it is vital to be cognitively aware of your physical location and the job opportunities that intersect in establishing a concrete plan post-graduation. 

Second, take time to be mentally and actively involved in how you allocate your tuition, therefore, you are not blindsided when you start making payments on the loans in the future. 

Third, due to the recent low unemployment rate nationally, students need to jump at the bright prospects that are available, starting with internships and job experience either in the classroom or in the field. 

Most essential, keep in mind your academic goals and how that translates to your future career. Take the steps, today, of your choosing, to allow yourself to adapt as well to the existing college culture in place. 

JoAllie Paluchak can be reached at voices.spectator@gmail.com.

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